North America Metals & Mining_ Short Interest Tracker_ Sector Short Interest Ticks Higher; 1yr Highs for NUE & CLF; 1yr Lows for STLD & AA. Fri Dec 27 2024

Summary of Key Points from the Conference Call Industry Overview - The report focuses on the North America Metals & Mining sector, particularly highlighting short interest trends and days to cover for various companies within the industry [15][19][24]. Key Companies Discussed 1. MP Materials (MP) - Last short interest: 18.7% with a one-year average of 8% [22]. - Days to cover: Last recorded at 5.3 days, with a one-year average of 8.2 days [1]. - Recent stock performance: Down 16.7% over the last month [22]. 2. Piedmont Lithium (PLL) - Last short interest: 17.6% with a one-year average of 18.2% [22]. - Days to cover: Last recorded at 6.2 days, with a one-year average of 5.5 days [22]. 3. Lithium Americas Corp (LAC) - Last short interest: 13.2% with a one-year average of 8% [22]. - Days to cover: Last recorded at 2.4 days, with a one-year average of 5.3 days [22]. 4. Cleveland-Cliffs (CLF) - Last short interest: 11.2% with a one-year average of 7.6% [22]. - Days to cover: Last recorded at 3.6 days, with a one-year average of 3.6 days [63]. 5. Alcoa (AA) - Last short interest: 3.3% with a one-year average of 5.8% [22]. - Days to cover: Last recorded at 3.0 days, with a one-year average of 4.0 days [63]. Core Insights and Arguments - The average short interest across the sector increased to 7.2%, up from 7.0%, while the average days to cover decreased to 4.7 days from 5.1 days [15]. - Notable increases in short interest were observed for NUE (up 16.8%) and CLF (up 22.9%) [15]. - Companies like MP, LAC, and PLL remain heavily shorted due to project risks and muted near-term metal price outlooks [15]. Additional Important Information - The report indicates that the heavy shorting of certain equities is a response to market conditions and company-specific risks, which could present both opportunities and risks for investors [15]. - The report also highlights the potential for volatility in stock prices due to changes in short interest and days to cover metrics, which are critical indicators for investors [15][19]. Conclusion - The North America Metals & Mining sector is experiencing notable shifts in short interest and days to cover, with specific companies like MP Materials and Piedmont Lithium facing significant scrutiny. Investors should consider these metrics when evaluating potential investment opportunities and risks in the sector [15][19][22].